“Accounting…and…accountability” – these are clearly linked terms with common meaning that emerged along with the modern capitalist system, deriving from Middle European languages and cultures. “Accounting,” (says Webster’s New Collegiate) is derived from the medieval, “to tell…” -- as today’s accounting systems are designed to “accurately tell the story” of an organization’s financial condition.

News & Updates

The U.S. Federal Reserve will not need to see balanced risks to the economy to proceed with an interest rate hike in September, according to former Fed officials and a review of central bank statements through recent turns in...

Prime Minister Alexis Tsipras on Friday acknowledged his government had made covert contingency plans in case Greece was forced out of the euro, but rejected accusations he had plotted to take the country back to the drachma.

Health care spending will outpace the nation's overall economic growth over the next decade, the government forecast on Tuesday, highlighting a challenge for the next president, not to mention taxpayers, businesses and individual...

BERLIN - The German government's panel of independent economic advisers favors the creation of a sovereign insolvency mechanism for euro zone states to prevent future crises and says countries should be able to leave the currency...

China’s pledges to prop up the stock market are unwise. It didn’t have to be this way – if only the country’s authorities had been able to resist the lure of inflating asset prices. That’s a challenge few governments have met.